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PREMIUM WESTIN HOTEL, CANAM

Interimm © > Portfolio > EB5 > CanAm > PREMIUM WESTIN HOTEL, CANAM

OVERVIEW PROJECT

OVERVIEW PROJECTx

  •  Westin Hotel is part of the Marriot Hotel GroupMarriot is the largest hotel group in the world with over 6500 hotels in 127 countries
  • Westin Hotel is within the world’s largest medical complex in Houston, Texas
  • Westin Hotel is 19 story towers in the center of the Texas Medical Center:- 10,000 SF (929 m2) of meeting space- Approx. 210,000 SF (19,510 m2) with 272 suites – National retail tenants on the frst floor – When complete, the Project will be the only 2 hotels in the 2.1-mile radius area with 20,800 population. The average hotel occupancy rate exceeds 80%
  • Texas Medical Center is the world largest about Medical Complex, Childre’s Hospital, Cancer Hospital
  • The strong growth of the TMC market area has resulted in record high occupancies and average daily rates for the hotel in recent years, about 500,000 people stay in the area each year (CBRE,Inc.)
  • The TMC is positioned to continue to experience strong steady growth over the next 10 years (CBRE,Inc.)
  • Project Developer: Pearl Houston Medical Center, LLC
  • Regional Center: CanAm Enterprises

LOCATION PROJECT

LOCATION PROJECTx

  •  Houston is the 3rd largest city in the U.S. and largest city in Texas
  • Home to the largest Vietnamese population outside of California
  • Houston has the second most Fortune 500 headquarters
  • Home to the Texas Medical Center, the largest medical center in the world, with a local economic impact of $10 billion

PROJECT SUMMARY

PROJECT SUMMARYx

  • Total Sources: 102.415.629 USD
  • Senior Construction Loan: 63.500.000 USD (62%)
  • EB-5 Loan: 20.000.000 USD (19.5%)
  • Equity: 18.915.629 USD (18.5%)
  • Number of EB-5 Investors: 40
  • Total Job Creation: 1.022 jobs (25 jobs per investor)

PROJECT VIDEO

LOCATION PROJECT

LOCATION PROJECTx

  • Houston is the 3rd largest city in the U.S. and largest city in Texas
  • Home to the largest Vietnamese population outside of California
  • Houston has the second most Fortune 500 headquarters
  • Home to the Texas Medical Center, the largest medical center in the world, with a local economic impact of $10 billion

PROJECT DEVELOPER

OVERVIEW PROJECTx

  • The Borrower, Pearl Houston Medical Center, LLC is a subsidiary of Pearl Hospitality, an award winning hotel developer and operator of a portfolio of Marriott and Hilton hotel-branded properties in Southwest Texas. Over the last 17 years, Pearl Hospitality has developed and managed several properties; its portfolio currently has seven hotel properties whose total assets are valued at approximately $300 million.

REGIONAL CENTER

OVERVIEW PROJECTx

  • Leading the EB-5 industry with 30 years of experience.
  • 7 regional centers.
  • Raise more than $ 2.5 billion in EB-5 funding for more than 55 projects.
  • More than 5,000 investors in the world choose to invest in CanAm.
  • More than 3,400 investors have been approved for I-526.
  • More than 2,000 investors and families have been granted I-829.
  • 6,000 permanent green cards have been issued to investors and families.
  • 1,743 investors are refunded 100% of capital investment from 32 projects. Total investment is up to 871.5 million.
  • Created approximately 72,000 full-time jobs for US citizens.

PROJECT TIMELINE

OVERVIEW PROJECTx

  • Construction commenced: Q2 2017
  • Projected construction completion: Q3 2019
  • Estimated grand opening: Q1 2020

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